Bursa Malaysia Mixed At Midday
KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia ended the morning session mixed, with buying interest in heavyweights offset by widespread selling of small-caps stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 7.43 points, or 0.45 per cent, to 1,632.90 compared with Monday’s close of 1,625.47.
The index initially opened 0.97 of-a-point lower at 1,624.50 and traded between 1,624.50 and 1,633.23 during the morning session.
On the broader market, decliners outnumbered gainers 502 to 464, with 531 counters unchanged, 856 untraded and 10 suspended. Turnover totalled 2.42 billion units worth RM1.60 billion.
Malacca Securities Sdn Bhd said as the Malaysia-Singapore Leaders’ Retreat moves into its second day, the prime ministers of both nations are set to sign a joint agreement regarding the Johor-Singapore Special Economic Zone.
Hence, it noted that traders may continue to explore opportunities in Johor-related stocks.
“With the Penang Light Rail Transit (LRT) project set to commence this month, we believe the construction sector stands to benefit. Reports of new virus infections in China may lead to heightened sentiment and trading volatility in glove stocks,” it said in a note.
Among the heavyweights, Gamuda added 30 sen to RM5.16, Sunway gained 15 sen to RM4.82, and YTL Power was nine sen higher at RM4.53, while Public Bank was flat at RM4.51 and Tenaga Nasional fell eight sen to RM14.50.
Of the active stocks, Velocity and Talam Transform were both flat at 8.0 sen and 2.5 sen, respectively. JCT increased 1.5 sen to 58.5 sen, and Nationgate gained 21 sen to RM2.97, but Ta Win slipped half-a-sen to 2.0 sen.
On the index board, the FBM Emas Index strengthened 51.97 points to 12,573.12, the FBM Emas Shariah Index increased by 63.29 points to 12,600.68, and the FBMT 100 Index rose by 56.75 points to 12,391.20.
The FBM 70 Index gained 90.96 points to 18,994.58, while the FBM ACE Index lost 8.79 points, falling to 5,486.35.
By sector, the Plantation Index advanced 51.36 points to 7,614.58, the Industrial Products and Services Index ticked up 0.98 of-a-point to 175.49, the Financial Services Index rose by 37.21 points to 19,011.55, but the Energy Index fell 1.73 points to 853.54.
-- BERNAMA